T3 Live
Shares

Coffee With Greta: Extending Gains

Shares

DJIA Futures: +79 (+0.2%)

SPX Futures: +9 (+0.2%)

NASDAQ Futures: +4 (+0.02%)

Good morning friends!

Futures are rising as the S&P 500 extends its longest win streak since 2021.

Let’s get right to it!

Disney Jumps On Earnings Beat

Walt Disney (DIS) shares are up 4.3% ahead of the open after beating fiscal Q4 profit expectations and announcing plans to expand its cost-cutting efforts. 

Here’s how the company’s results compared to analysts’ estimates:

  • Adjusted EPS: $0.82 vs $0.70 expected
  • Revenue: $21.24 billion vs $21.33 billion expected
  • Disney+ subscribers: 150.2 million vs 148.15 million expected

Revenue rose 5% year over year but marked the second straight miss for the first time since early 2018. 

Disney’s experience division, which includes the theme parks, saw revenue jump 13% to $8.16 billion. 

The company said it plans to continue to “aggressively manage” its cost base, increasing those efforts by $2 billion to a target of $7.5 billion.

Arm Falls After First Post-IPO Earnings 

Arm Holdings (ARM) shares are falling 6.3% in premarket trade despite beating expectations in its first post-IPO earnings report.

Here’s how the chip designer’s results compared to analysts’ estimates: 

  • Adjusted EPS: $0.36 vs $0.26 expected
  • Revenue: $806 million vs $740 million expected

Total revenue rose 28% year over year. 

In a letter to investors, company management said, “We are delighted with Arm’s first quarter as a listed company, which has demonstrated the strength of our business model and the robustness of our diversified products and end markets.”

But Arm’s guidance for the current quarter fell short. 

The company expects EPS between $0.21 and $0.28 on revenue between $720 million and $880 million.

Analysts were forecasting EPS of $0.27 on between $730 million and $805 million in revenue.

Lyft Slips Despite Earnings Beat

Lyft (LYFT) shares are down 4.1% ahead of the open despite beating Q3 expectations. 

Here’s how the ride-hailing giant’s results compared to analysts’ estimates: 

  • Adjusted EPS: $0.24 vs $0.15 expected
  • Revenue: $1.16 billion vs $1.14 billion expected

Revenue jumped 10% year over year while total rides rose 20% to 187 million. 

Lyft’s active riders grew 10% from a year ago to 22.4 million.

The company forecast Q4 sales growth in the “mid-single-digits quarter over quarter” vs 3.5% expected. 

Lyft said it expects gross bookings in the current quarter of around $3.6 billion to $3.7 billion.

Weekly Jobless Claims Fall

Weekly jobless claims fell more than expected as the labor market remains tight. 

The Labor Department reported 217,000 Americans filed initial claims for unemployment benefits last week. 

That was a decrease of 3,000 from the week before and lower than 220,000 expected. 

Continuing claims rose by 22,000 to 1.83 million the week ending October 28, the highest level in seven months. 

This figure indicates it’s taking unemployed workers longer to find new jobs.

Leave a Comment: